|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
0.904082 |
| |
0.904074 |
| |
0.904061 |
| |
0.904055 |
| |
0.904055 |
| |
0.904048 |
| |
0.903976 |
| |
0.903962 |
| |
0.903957 |
| |
0.903949 |
| |
0.903906 |
| |
0.903876 |
| |
0.903870 |
| |
0.903865 |
| |
0.903865 |
| |
0.903855 |
| |
0.903821 |
| |
0.903812 |
| |
0.903803 |
| |
0.903789 |
| |
0.903782 |
| |
0.903764 |
| |
0.903759 |
| |
0.903748 |
| |
0.903729 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
